Causeway Capital Management LLC Sells 233,506 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Causeway Capital Management LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 49.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,621 shares of the company's stock after selling 233,506 shares during the quarter. Causeway Capital Management LLC owned about 0.10% of Live Nation Entertainment worth $30,513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LYV. Principal Financial Group Inc. raised its holdings in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company's stock valued at $787,950,000 after acquiring an additional 87,032 shares during the period. Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at $42,000. M&T Bank Corp boosted its position in shares of Live Nation Entertainment by 2.4% in the third quarter. M&T Bank Corp now owns 6,740 shares of the company's stock worth $738,000 after buying an additional 159 shares during the period. Coldstream Capital Management Inc. acquired a new position in Live Nation Entertainment during the third quarter valued at $262,000. Finally, Toronto Dominion Bank lifted its stake in Live Nation Entertainment by 22.8% in the 3rd quarter. Toronto Dominion Bank now owns 52,995 shares of the company's stock worth $5,802,000 after acquiring an additional 9,840 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Trading Up 1.5 %

Shares of NYSE LYV traded up $1.90 during mid-day trading on Friday, hitting $127.36. The company's stock had a trading volume of 2,566,577 shares, compared to its average volume of 2,240,514. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $29.73 billion, a price-to-earnings ratio of 46.82, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31. The company's fifty day simple moving average is $132.51 and its 200-day simple moving average is $130.96. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LYV. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Rosenblatt Securities reissued a "buy" rating and set a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Benchmark restated a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Roth Mkm raised their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.33.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.